Ian Garland, Chief Executive Officer, commented, “The transformation of Vernalis has continued. Our licensing deal with
Tris, announced in February, together with the £65.9 million equity fundraising are important steps to transform the company into a diversified, profitable and self-sustaining specialty pharmaceutical company. The outlook for 2012 remains very positive with progress expected under the Tris collaboration, where development work has already started on three combination products, as well as our existing programmes and research collaborations.”

Presentation & Conference Call

Vernalis management will host a presentation at 09.00am (UK) at Brunswick’s offices, 16 Lincoln’s Inn Fields, London
WC2A 3ED today. It will also be available via webcast at http://www.vernalis.com/investor-centre/presentations-and-
webcasts and www.cantos.com and via conference call, which can be joined by dialling: 020 3140 0668, Passcode:
226634#.

Enquiries:

Vernalis Contacts

Ian Garland, Chief Executive Officer +44 (0) 118 989 9360

David Mackney, Chief Financial Officer

Brunswick Group

Jon Coles +44 (0) 20 7404 5959

Kristin Shine

Taylor Rafferty

Rob Newman +44 (0) 20 7614 2900

Faisal Kanth

About Vernalis

Vernalis is a revenue generating development stage pharmaceutical company with significant expertise in drug development.

The Group has one marketed product, frovatriptan for the acute treatment of migraine, an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough/cold market as well as eight programmes in its NCE development pipeline. Vernalis has significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company’s
technologies, capabilities and products are endorsed by collaborations with Endo, Genentech, GSK, Lundbeck, Menarini,
Novartis, Servier and Tris.

For further information about Vernalis, please visit www.vernalis.com

Vernalis Forward-Looking Statement

This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties
related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for
the commercialisation and/or development of its products, as well as the achievement of expected synergies from such
transactions, the acceptance of frovatriptan and other products by consumers and medical professionals, the successful
integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.